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1924 - Henry Wallace begins selling 'Copper Cross', an early commercial hybrid seed corn. 1926 - Hi-Bred Corn Company is founded in Des Moines, Iowa, with $7,000 in capital. [7] 1931 - Roswell Garst agrees to produce/distribute seed. The following year Garst partners with Charles Thomas to form the Garst and Thomas Seed Corn Company.
In 1931, Garst and Thomas Hi-Bred Corn Company was founded by Roswell Garst and Charley Thomas in Coon Rapids, Iowa, and was "instrumental in promoting the use of hybrid corn." [ 1 ] During the Cold War , Garst formed a relationship with Nikita Khrushchev and assisted the USSR in modernizing its corn production.
In 1923, he reached the first-ever contract for hybrid seed production, agreeing to grant the Iowa Seed Company the sole right to grow and sell Copper Cross corn. [18] In 1926, he co-founded the Hi-Bred Corn Company to develop and produce hybrid corn. It initially turned only a small profit, but eventually became a massive financial success. [19]
Corn prices are now up about 10% over the past month. The surge came after prices hit 2020 lows last year due to oversupply, which eroded farmers' incomes and hit the rural economy hard.
From a mid-August peak of a record $8.49 a bushel, corn December futures have fallen to around $7.40 a bushel today. The spread between corn for December 2012 delivery and March 2013 delivery has ...
The DowDuPont agricultural businesses that became Corteva had revenue of over $14 billion in 2017, [7] which would have placed the company in the Fortune 500 for that year. A major part of the company is Pioneer Hi-Bred International, which DuPont purchased in 1999.
As a result of this effort DeKalb AgResearch sold hybrid corn seed beginning in 1935. Sales expanded rapidly as Roberts organized a force of farmer-dealers, who were paid a 15% commission. The first popular hybrid was DeKalb 404A, which sold 508,000 bags in 1947, the same year total DeKalb sales exceeded 2,000,000 bags of seed corn.
In 1901, the Funk family and Funk Farms entered the seed business when Yale educated Eugene Duncan (E.D.) Funk, son of Lafayette Funk and grandson of Isaac, founded Funks Brothers Seed Company. Known for Funk's G-Hybrid seed corn, publicly traded Funk Brothers was the inventor, and world's leading producer, of hybrid corn. In 1941, E.D. Funk Sr ...